Winnebago Industries (NYSE:WGO) Sets New 52-Week Low - Here's What Happened

Key Points

• Winnebago shares hit a new 52-week low, falling to $23.30 during mid-day trading, well below their 50-day and 200-day moving averages of $29.21 and $30.10.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and an average price target of $36.22. Recent target reductions included Benchmark, Citigroup and Truist Financial.
• The company raised its quarterly dividend to $0.36 per share, implying a 6.2% yield, but its 105.88% payout ratio exceeds earnings. Meanwhile, insiders sold $511,658 worth of shares over the past three months, while several institutional investors increased their positions.

Winnebago Industries, Inc. (NYSE:WGO - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $23.30 and last traded at $23.2950, with a volume of 570,835 shares trading hands. The stock had previously closed at $23.39.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. DA Davidson reiterated a "neutral" rating and set a $35.00 price target on shares of Winnebago Industries in a report on Monday, June 15th. Benchmark lowered their price target on Winnebago Industries from $48.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Citigroup reduced their target price on shares of Winnebago Industries from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, September 16th. Truist Financial dropped their price objective on Winnebago Industries from $43.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. Finally, Zacks Research upgraded shares of Winnebago Industries from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 1st. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $36.22.

Winnebago Industries Stock Performance

The firm's 50 day simple moving average is $29.21 and its 200-day simple moving average is $30.10. The company has a market cap of $653.49 million, a price-to-earnings ratio of 16.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 2.37.

Winnebago Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Wednesday, September 9th. This is a boost from Winnebago Industries's previous quarterly dividend of $0.35. Winnebago Industries's dividend payout ratio is presently 105.88%.

Insider Transactions at Winnebago Industries

In other Winnebago Industries news, CEO Michael Happe sold 12,045 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $32.68, for a total transaction of $393,630.60. Following the sale, the chief executive officer owned 349,349 shares in the company, valued at $11,416,725.32. This represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Bret Woodson sold 1,235 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $31.73, for a total transaction of $39,186.55. Following the completion of the sale, the senior vice president directly owned 31,373 shares of the company's stock, valued at approximately $995,465.29. This trade represents a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,694 shares of company stock valued at $511,658 over the last three months. Corporate insiders own 4.88% of the company's stock.

Institutional Trading of Winnebago Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC purchased a new position in shares of Winnebago Industries during the 2nd quarter valued at $53,406,000. Deprince Race & Zollo Inc. boosted its holdings in Winnebago Industries by 300.6% during the first quarter. Deprince Race & Zollo Inc. now owns 573,448 shares of the RV manufacturer's stock valued at $17,771,000 after acquiring an additional 430,300 shares during the period. Maple Rock Capital Partners Inc. increased its position in Winnebago Industries by 33.3% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,559,231 shares of the RV manufacturer's stock worth $48,710,000 after buying an additional 389,400 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Winnebago Industries during the second quarter worth approximately $9,545,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Winnebago Industries by 72.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 664,638 shares of the RV manufacturer's stock worth $20,597,000 after acquiring an additional 280,017 shares during the last quarter.

About Winnebago Industries

Winnebago Industries, Inc is a manufacturer of recreational vehicles and marine products. The company designs and produces motorhomes, travel trailers, fifth-wheel trailers and other towable recreational vehicles sold under brands including Winnebago, Grand Design, Newmar and other affiliated names.

Through its marine businesses, Winnebago also manufactures recreational boats under brands such as Chris-Craft and Barletta. Its products are distributed primarily through independent dealers and serve consumers seeking travel, outdoor recreation and leisure-oriented transportation.

Founded in 1958 and based in Forest City, Iowa, the company has expanded from its original motorhome business into a broader recreational products organization.

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